Accent Group Limited FY2020 Results Presentation
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Accent Group Limited FY2020 Results Presentation
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Table of contents
Item Page
Value creation and investor value proposition 3
FY20 summary results 4
Operating Review 6
Growth Plan 14
Dividends and Trading Update 22
Appendix 24
Accent Group Limited FY2020 Results Presentation
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Value creation and investor value proposition
10-year Total Shareholder Return1 comparison Accent and
ASX300 (30 June 2010 to 30 June 2020) o Compound EPS growth of 12.3% over
the past 10 years.
900% Total Shareholder Return
o Strong cash generation and dividend
since 30 June 2010:
800% growth of 21.7% since 2010.
Accent Group: 20.4%
(Annualised Return) o A market leading digitally integrated
700%
ASX300 Index: 9.2% consumer business with 19 websites, 16
600% (Annualised Return) 542.3% owned and distributed brands, more
than 500 points of distribution and over
500% 6.8m contactable customers.
400%
o Approaching $1b of sales with a market
300% leading position in the lifestyle and
performance market.
200%
142.1%
o Best in class margins through gross margin
100% expansion initiatives and drive for cost
efficiency.
0%
(100.0%)
o Strong future growth initiatives through
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 digital, new stores, vertical brands and new
business to achieve market share growth in
AX1 ASX300
the $6 billion + performance and lifestyle
market segment in Australia and New
Zealand.
Source: Bloomberg, Accent Filings.
1. Assumes 100% dividend reinvestment on the ex-dividend date.
Accent Group Limited FY2020 Results Presentation
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Record FY20 profit1
Key Metrics
Pre AASB 16 Pre AASB 16 %
$’000’s FY20 FY19 Change
Group Sales (inc.
948,935 935,344 +1.5%
Franchisees)
EBITDA 121,658 108,853 +11.8%
EBIT 87,219 80,585 +8.2%
PBT 83,557 77,020 +8.5%
Digital Growth 69% 93%
Inventory 129,106 131,470
Net Debt 31,213 49,427
FY20 Full Year Dividend 9.25 cents 8.25 cents +12.1%
1. The statutory results for FY20 reflect the adoption of the new accounting standard AASB 16 Leases. The Group has adopted AASB 16
using the modified retrospective approach and as a result the prior period comparatives have not been restated. To allow for comparable
financial information, all FY20 results in this presentation are disclosed pre the application of AASB 16 (“Pre AASB 16”) and exclude the
impact of AASB 16. Refer to page 28 for a statutory view of the results
Accent Group Limited FY2020 Results Presentation
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Operational highlights
Digital growth: up 69% on FY19, run rate of over 20% of sales.
Store growth: opened 57 new stores (including new store formats), 12 closures.
The Athlete’s Foot (TAF) corporate stores: 68 corporate stores, up from 49
stores in FY19.
Owned brands and product: launch of Shubar in Hype DC, The Trybe
accessories, TAF performance socks, Alpha school shoes and new accessory
ranges in Platypus and Hype DC. FY20 sales of $13m, up from $4.5m last year
with gross margin of circa 65%.
PIVOT: launch of first PIVOT store in Shellharbour (NSW) with store trading
ahead of expectations. 4 additional stores signed and up to 100 store rollout
opportunity.
Stylerunner: digital native business. Integration well progressed with strong
growth in sales and margin achieved in the first 6 months of ownership. First
store to open in Victoria in Q2.
Accent Group Limited FY2020 Results Presentation
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Operating Review
(Subtype Auckland pictured)Growth in digital sales
Digital sales up 69% on LY
Contactable customers
base grew by 2m to 6.8m
FY20 digital sales Largest ever month
were 17% of sales. in digital sales –
Run rate of over May $29m dollars
20% of sales FY18 FY19 FY20
Record results Fulfilled +52%
during key trade more orders than
periods ($2m dollar FY19
day in Click Frenzy)
Endless Aisle grew Site traffic
by 97.3% vs FY19 grew by +32.8% to
67.6 million visits
vs FY19
Accent Group Limited FY2020 Results Presentation
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12Growth in digital sales
FY18: 131% YoY growth FY19: 93% YoY growth FY20: 69% YoY growth
o Total number of websites: 13. o Total number of websites: 17. o Total number of websites: 19.
o 3 new websites launched: o 3 new websites launched: The o Seismic growth in digital sales in
Platypus New Zealand, Skechers Trybe, Subtype and Vans New Q4 of 142%.
New Zealand and Dr Martens. Zealand. o Launched website for Stance
o Activated Afterpay. o Launched Same Day Deliver. and acquired Stylerunner.
o Click and Despatch implemented. Launched Endless Aisle. o Launched direct virtual sales.
FY18 FY19
Graph shows Total Digital Sales and Digital as a % of Total Retail Sales.
Accent Group Limited FY2020 Results Presentation
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12Growth in digital sales
Website Sessions (4 week Rolling) Key Metrics over July 2019 - June 2020
COVID -19 FY20 FY20 FY20
(July ‘19 – (July ‘19 – April–
June ’20) Mar ’20) June ’20)
Digital Sales +69.0% +31.1% +142.1%
Website Sessions +32.9% +29.1% +118.8%
Orders +52.0% +24.8% +109.1%
Conversion Rate +14.2% +0.0% +39.5%
Avg. Order Value +0.1% -2.3% +4.6%
Digital as a % 17% 12% +35.4%
of Total Sales
Conversion Rate (4 week Rolling)
COVID -19
o Strong results delivered across all KPIs for FY20.
o The clear shift in customer behaviour can be seen by the
significant increase in website sessions since April compared to
the prior year.
o Conversion rates increasing, driven by improved marketing and
website capability.
Accent Group Limited FY2020 Results Presentation
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12Growth in digital sales
o Integrated omnichannel capability including 19 websites and 500+ store network allows fast customer order fulfillment
through Click and Dispatch and Click and Collect.
o All physical stores operate as warehouses. During 4-week shut down of retail stores, stores operated as “Dark Stores” to
fulfill orders. Online orders grew from avg $200k to $800k - $1m per day from April to June.
o Capitalised on the customer shift to online shopping capturing
incremental revenue from new customers who have never
shopped with the brand before. In Q4, more than 50% of
customers who shopped with us on digital were new customers
who had not shopped with us through any channel previously.
o Optimised digital marketing, increasing our Revenue/Session
by more than 50%, driving efficiency in our digital marketing
spend.
o Increased revenue from paid channels by 70% vs FY19 and
improved Return On Ad Spend (ROAS) by 38%.
o Internalised digital media buying (removing Agency fees)
and invested in technology to optimise bidding and appropriate
audiences (Adobe & Google AI). This notably improved our
ROAS.
o Launched a partnership program that delivered incremental
revenue and surfaced our brands to 6m+ new prospects.
Accent Group Limited FY2020 Results Presentation
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12Retail overview
Key Financial Highlights Commentary
Owned Retail Sales up 6.5% to $698.6m
o LFL retail sales up 1.9%1.
LFL Sales1 up 1.9%
o Skechers, Vans, Dr Martens, Platypus and Hype DC
continued sales growth, with gross margin broadly in line
with last year.
Store Network2
564 o Opened 57 new stores, refurbished 29 stores and closed
524 12 stores. At the end of FY20, the total store network was
479 524 stores.
77
96 o Strong support negotiated with landlords for rent
abatements for the period April 2020 to December 2020.
FY20 Highlights
o 8 The Trybe stores including online store trading in line
with expectations.
447 o 3rd Platypus flagship superstore opened in Highpoint in
383 December.
o Launch of PIVOT Shellharbour (NSW) with performance
ahead of plan.
o TAF strong sales performance despite stores being
FY19 FY20 Forecast FY21
partially closed in April as result of an increased trend in
Corporate Stores Franchisees active and performance wear.
1. LFL sales include digital and The Athlete’s Foot franchise stores and
excludes stores that were closed in April. 2. Includes store closures. For a
breakdown by banner refer to page 20.
Accent Group Limited FY2020 Results Presentation
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7Wholesale & vertical brands
Vertical Distribution and Wholesale Commentary
o Wholesale sales were down -6.7% for the year due to the
impact of lower demand in April and May. Wholesale sales
bounced back in June to normal levels.
o Forward pipeline strong with record wholesale sell in
achieved in Vans, Skechers and Dr Martens for H2 FY21.
o Brand license renewals:
o Sperry renewed until December 2022;
o Vans renewed until December 2023;
FY20 o Dr Martens renewed until March 2024; and
Highlights
o Merrell renewed until December 2024.
o Vertical product (shoe care, socks and accessories) sales of
$13m, up from $4.5m last year. Significant growth expected
in FY21.
o Launch of The Trybe accessories, TAF performance socks
Growth of New Owned Brands and new ranges launched in Platypus and Hype DC.
o Launch of 100% owned brands Shubar, Alpha and ITNO (In
the Name Of).
o Acquired vertical apparel brands and design capabilities
through Stylerunner.
Accent Group Limited FY2020 Results Presentation
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10COVID – 19 Impact
o With the event of COVID-19, in order to safeguard the health and safety of our team and customers, the Company
initiated a national shutdown from 25 March for a then unknown duration.
o All owned stores were closed to customers from 27 March and progressively reopened through early May. Sales in
March and April declined by $55.7m or 58% compared to the prior year.
o Implementation of hard cost out measures and inventory initiatives to right size the company's costs and inventory.
o Focus shifted to accelerating digital sales through April and beyond.
o Government wage subsidies (announced after the decision to shutdown) were passed directly through to team
members who were not working or did not work sufficient hours to be paid more than the subsidy. The balance was
deployed to accelerate the full employment of team members and to reopen the Accent business through May,
including standing up all permanent team members from 1 June to full hours and full pay.
o Sales strengthened through May and continued into June driven by digital sales which were up c142% to $64.5m in
Q4. Store sales in May and June remained impacted by low levels of customer traffic. The strong overall sales results,
inclusive of digital sales, drove strong gross profit and EBIT growth and included an incremental investment in team
wages of $16m across these months.
o Strong cash position at year end of $54.9m, last year $36.7m. Total available liquidity of $152m.
o Rent relief agreed with more than 80% of landlords, following good faith negotiations and in the spirit of the
Government code of conduct. Relationships with landlords as strong as ever and rent payments up to date.
o The recent lockdowns in Melbourne and Auckland have resulted in more than 20% of Accent’s stores being closed to
customers. All permanent team members continue to be stood up on full pay through these latest lockdowns.
Accent Group Limited FY2020 Results Presentation
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12Growth Plan
Growth plan achievements – Last 4 years
Accent Group continues to drive innovation in retail
o The Group’s mid to long term
Acquired objective is to achieve greater
business
30 franchises acquired
than 10% compounding EPS
68 corporate stores
growth over time.
New o Continued drive to grow digital
concepts sales in the core businesses.
11 websites 13 websites 17 websites 19
19websites
websites o Focus on organic growth in
Digital Hub in Same day delivery Online
Online > 20%
>20% of of
sales segments with valuable market
Digital Melbourne Endless aisle sales run
run rate
rate opportunities.
Click and dispatch 6.8m
6.8mcontactable
contactable
customers
customers
446 stores 479 stores o The Group’s scalable operating
430 stores 524 stores
Two superstores Third superstore
platform including supplier
Stores First Subtype NZ relationships, buying scale,
First store First store Subtype Auckland
store marketing, digital, store
development and back end
Vertical systems enables rapid
products & development and tests of new
owned Shoecare, socks and
Brands
business concepts.
accessories Accessories
772
807 o 4 new concepts successfully
607 676
introduced in the last 24 months.
Owned
sales ($m)
FY17 FY18 FY19 FY20
Accent Group Limited 2019 AGM Presentation
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31 Digital growth – Future initiatives
Targeting 30% of sales from digital.
Continue to enhance customers’ experience by optimising
the customers’ journey and explore additional delivery
options.
Invest in the next generation of e-commerce for customers
enabling best in class user experience.
Continued strategic investment in digital marketing, with
focus on driving social channels and partnership strategy.
Launch loyalty programs for Skechers and Platypus,
enhance existing loyalty programs & continue to focus on
our customer acquisition strategy.
Launch new sites: Pivot, Hype DC New Zealand, DR
Martens New Zealand and Subtype New Zealand.
Continued focus and investment in technology to drive
CODB improvements and margin optimisation.
Development and further rollout of virtual sales team who
sell directly to consumer from dedicated showrooms and
stores through digital call, chat and video enabled
channels.
Accent Group Limited FY2020 Results Presentation
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122 PIVOT
o Launch of PIVOT Shellharbour
(NSW) in June. Store trading
ahead of expectations.
o More than 40% of sales mix being
achieved from apparel, equipment
and accessories.
o Launch digital platform in H1
FY21.
o Grow store network up to 12
stores in FY21.
o Development of 100% owned
brand range.
o Opportunity for up to 100
stores.
Accent Group Limited FY2020 Results Presentation
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143 Stylerunner
Acquired Stylerunner in November 2019.
Successfully integrated the new business into the Accent
umbrella, with original team members transitioning well. The
team is expanding to support growth expectations.
Performance since the acquisition has been extremely
promising, delivering growth on prior year, with notable
improvements to margin.
Launched first TVC during Q4 FY20.
New website to be launched in October 2020 with added
functionality and improved user experience.
Development of 100% owned brand range.
First physical store to open in Armadale, Melbourne in Q2
FY21, with an additional 5 stores to follow in H2.
Continued focus on driving full priced sales through a
differentiated and curated consumer strategy.
Accent Group Limited FY2020 Results Presentation
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4 The Athlete’s Foot 5 New Stores 6 Vertical Brands and Product
o The 2 remaining New Zealand o Accent remains committed to opening o Continue to expand this program in
franchisee stores acquired. New new stores where required return on FY21 and beyond.
Zealand is now fully corporate owned. investment metrics can be achieved.
New store rents need to reflect the o Launch of Shubar in Hype DC, The
ongoing shift to digital sales and Trybe accessories, TAF performance
o Launch of apparel and training
reduced foot traffic in shopping centres. socks, Alpha school shoes and new
accessories on the website to grow
share of online market. accessories ranges in Hype DC and
Platypus.
o A strong and widespread store network
o Margin expansion through: has been demonstrated to improve
brand recognition and sales and o Continue to drive underlying gross
o Growth in distributed and margin improvement as the sales mix
provides a competitive advantage for
exclusive brands, including of vertical products increases.
digital fulfillment.
Saucony, Merrell, MBT and ON
Running;
o Focus on developing an internal
o Expanded assortment of vertical o At least 30 - 50 new stores (excluding sourcing and supply team.
brands, including Alpha footwear closures) planned to open in FY21
and TAF Accessories; and across all banners.
o Launch of ITNO brand in Platypus.
o Establishing strategic
partnerships with international o Continue to see the potential for a
performance brands. further 30 – 40 stores over the next two
or three years.
o Continue to grow the corporate network
by acquiring franchise stores and
o The Trybe business continues to
opening new stores.
perform to expectations with growth
online and in store. Now in rollout phase
with further stores to open in FY21.
Accent Group Limited FY2020 Results Presentation
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12Store network and distribution agreements
Store Network1
Jun-20
Other/S’Run
Store Network1 TAF Platypus Skechers Vans Timberland Dr Martens Merrell Hype Sub Type Trybe PIVOT Total
ner
Stores at End of
143 114 94 24 7 4 20 65 2 3 3 479
FY19
FY20
Stores Opened 7 11 19 0 0 2 0 7 1 5 1 4 57
Stores Closed (5) (1) (4) (1) (1) (12)
Stores at End of
145 125 112 24 7 6 16 71 3 8 1 6 524
FY20
Projection FY21
Expected at the
144 133 120 25 8 11 16 73 4 10 10 10 564
End of FY21
Distribution Agreements
CAT Apparel Dec-20
Timberland Dec-21
CAT Footwear Dec-21
Saucony Dec-21
Stance Jun-22
Sperry Dec-22
Vans Dec-23
Palladium Dec-23
Dr. Martens Mar-24
Merrell Dec-24
Skechers Dec-26
FY2020 FY2027
1. Includes websites (19) and franchises (77); 2. Net of store closures.
Accent Group Limited FY2020 Results Presentation
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19Gross margin and FX rate
Statutory Gross Margin % and FX Rate (AUD/USD Cover)
Statutory Gross Margin % and FX Rate (Forward USD Cover)
57% 0.77
56%
0.75
0.74
FX Rate (Forward USD Cover)
55%
Gross Margin %
54% 0.72
56.1% 55.8%
53% 0.70
0.70 54.8% 0.70
52%
52.7%
0.68
51% 0.67
FY17 FY18 FY19 FY20 FY21
Gross Margin FX rate (Forward USD cover)
Accent Group Limited FY2020 Results Presentation
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19Dividends and Trading Update
Accent Group Limited FY2019 Results Presentation
22Dividends and trading update
o Accent Group has announced a final dividend for FY20 of 4.00 cents per share, fully franked, payable on
24 September 2020 to shareholders registered on 10 September 2020.
o Total dividends for FY20 of 9.25 cents per share, fully franked, is up 12.1% on prior year (FY19, 8.25 cents) ahead
Dividends
of NPAT growth of 7.5%.
o Accent Group continues to be defined by strong cash conversion and the consistent strong returns it delivers on
shareholders’ funds.
o For the first 8 weeks of H1 FY21, LFL retail sales across the whole network are up 1.3%1 on the same period in
the prior year.
o Excluding Victoria & Auckland which were impacted by various stages of lockdown for the first 8 weeks, LFL sales
are up 16.6%2.
Trading Update o All Melbourne metro stores closed to customers from 5 August for a minimum period of 6 weeks. All closed stores
continue to trade as dark stores.
o Auckland stores closed to customers from 12 August 2020 for a minimum period of 2 weeks. All closed stores
continue trade as dark stores.
o For the first 8 weeks of H1 FY21, digital sales are up 136% on the same period in the prior year.
o Due to the continuation of COVID-19 and the inherent uncertain environment, Accent Group has determined not to
provide guidance at this time.
Outlook
o The Company will receive JobKeeper until the end of September and, due to current performance, does not expect
to apply for JobKeeper beyond the end of September.
1. LFL sales include digital and The Athlete’s Foot franchise stores 2. LFL sales exclude Victoria stores from the beginning of the year to week 8 and Auckland stores from
week 6 to week 8.
Accent Group Limited FY2020 Results Presentation
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16Appendix
Accent Group Limited FY2019 Results Presentation
24FY20 summary of financial performance
Financial Summary1 – Comparable Financial Information Operating Highlights
Pre AASB 16 Pre AASB 16 % o Total company owned sales of $807.1m, up
Profit & Loss ($000's) FY20 FY19 Change 4.5% on prior year.
Sales
Owned sales 807,092 772,466 4.5% o Sales impact in March and April of store shutdown
was $55.7m compared to prior year.
Gross profit 450,673 433,125
Gross margin (%) 55.8% 56.1% -30bps o Gross margin of 55.8%. A solid result considering
FX headwinds and inventory clearance activity in
CODB (351,728) (348,185) Gross Q4.
CODB (%) 43.6% 45.1% -150bps Margin o Vertical product strategy (shoe care, socks and
accessories) on track. Total sales of $13m this year
Royalties and franchise fees 12,200 14,364 (last year $4.5m).
Other income 10,513 9,549
EBITDA 121,658 108,853 11.8% o Cost efficiencies and hard cost out programs from
April in marketing, distribution, travel and other
Depreciation, amortisation and discretionary costs.
(34,439) (28,268)
impairment
o Impact of the various wage subsidy schemes
EBIT 87,219 80,585 8.2% announced after Accent Group’s decision to
CODB
Net interest (paid) / received (3,662) (3,565) shutdown.
PBT 83,557 77,020 8.5% o Rent relief agreed with over 80% of landlords,
following good faith negotiations.
Tax (25,603) (23,134)
Net Profit After Tax 57,954 53,886 7.5%
1. The statutory results for FY20 reflect the adoption of the new accounting standard AASB 16 Leases. The Group
has adopted AASB 16 using the modified retrospective approach and as a result the prior period comparatives have NPAT o NPAT of $58m, up 7.5% on prior year.
not been restated. To allow for comparable financial information, all FY20 results in this presentation are disclosed
pre the application of AASB 16 (“Pre AASB 16”) and exclude the impact of AASB 16. Refer to page 28 for a statutory
view of the results.
Accent Group Limited FY2020 Results Presentation
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5Balance sheet
Balance Sheet Commentary
Post AASB 16 Pre AASB 16 Pre AASB 16 o Inventory decreased due to significant efforts to
$000's
FY20 FY20 FY19 right size inventory following a $56m shortfall in
sales in March and April.
Trade receivables and
37,771 41,389 31,820
prepayments o Property, plant and equipment increased due to
Inventories 129,106 129,106 131,470 significant investment in new stores and new
digital infrastructure.
Trade payables & provisions (109,527) (113,699) (115,313)
Net working capital 57,350 56,796 47,977
Intangible assets 358,583 358,583 352,893
Property, plant and equipment 97,732 95,149 86,167
Capital investments 456,315 453,732 439,060
Lease receivable 25,885 - -
Right of use asset 232,998 - -
Lease liabilities (315,343) - -
Lease balances (56,460) - -
Net debt (31,213) (31,213) (49,427)
Deferred income (7,092) (46,820) (38,545)
Tax and derivatives (9,690) (13,800) 4,272
Net Assets / Equity 409,210 418,695 403,337
Accent Group Limited FY2020 Results Presentation
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20Cash flow
Cash Flow – Comparable Financial Information Commentary
o Property, plant and equipment driven from
Pre AASB 16 Pre AASB 16 significant investment in 57 new stores and 29
FY20 FY19 refurbishments.
$000's
EBITDA 121,658 108,853 o Net payments for the purchases of business
Change in working capital (8,008) (9,134) include the acquisition of Stylerunner and 14 TAF
corporate stores.
Net interest and finance costs paid (4,834) (4,111)
Income tax paid (12,323) (28,632) o Strong free cash flow and cash conversion.
Other 2,872 (1,289)
Net cash flows from operating activities 99,365 65,687
Purchases of PP&E (23,836) (24,840)
Net payments for purchase of business (8,953) (11,804)
Net cash flows from investing activities (32,789) (36,644)
Free cash flow 66,576 29,043
Proceeds from issue of shares 844 1,783
Net proceeds from borrowings 0 12,500
Dividends paid (48,761) (44,742)
Net cash from financing activities (47,917) (30,459)
Net cash flow 18,659 (1,416)
Accent Group Limited FY2020 Results Presentation
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5Impact of new lease accounting standard AASB 16 Leases
The implementation of AASB 16 Leases has significantly changed reported results however the standard does not have an economic impact
on the Group, its cashflows, debt covenants or shareholder value. Below is a summary of the FY20 reported results reflecting the adoption of
AASB 16 and a pre AASB 16 view of FY20 results as a direct comparison to the FY19 results.
Profit & Loss
Post AASB 16 Pre AASB 16 Pre AASB 16 Pre AASB 16
$000's
FY20 FY20 FY19 Change
Owned sales 807,092 807,092 772,466 4.5%
Gross profit 450,673 450,673 433,125
Gross margin (%) 55.8% 55.8% 56.1% -30bps
CODB (270,005) (351,728) (348,185)
CODB % 33.5% 43.6% 45.1% -150bps
Royalties and franchise fees 12,200 12,200 14,364
Other income 10,513 10,513 9,549
EBITDA 203,381 121,658 108,853 11.8%
Depreciation, amortisation and impairment (108,608) (34,439) (28,268)
EBIT 94,773 87,219 80,585 8.2%
Net finance costs (14,445) (3,662) (3,565)
PBT 80,328 83,557 77,020 8.5%
Tax (24,646) (25,603) (23,134)
Net Profit After Tax 55,682 57,954 53,886 7.5%
Accent Group Limited FY2020 Results Presentation
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23Accent Group overview
Accent Group is the largest retailer and wholesaler of premium lifestyle footwear in the Australia and New Zealand region.
Owned Multibrand Retail Banners Vertical Retail & Wholesale Distribution
Retail and Accent has the exclusive rights to distribute these brands in Australia
Wholesale
Distribution
Channels
Third-party Global Brands Exclusively Distributed Global Brands Vertical Products
Strong Brand Leveraging global sourcing
and Product relationships to source vertical products
Relationships such as socks, shoe cleaners, laces and
other product categories
`
Large Digital
Presence and Over 500 stores, Significant Australia and New
Customer Customer engagement— with key presence in both Zealand market share in the
19 Websites
Access 6.8m customers metropolitan and segments in which we
regional areas operate
Accent Group Limited FY2020 Results Presentation
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21Notice and Disclaimer
o This presentation contains summary information about Accent Group Limited which is current as at the date of this
presentation.
o This presentation contains certain forward-looking statements, including indications of, and guidance on, future
earnings and financial position and performance. Such forward-looking statements are based on estimates and
assumptions that, whilst considered reasonable by Accent Group, are subject to risks and uncertainties. Forward-
looking statements are not guarantees of future performance and are provided as a general guide only. They
should not be relied upon as an indication or guarantee of future performance. Actual results and achievements
could be significantly different from those expressed in or implied by this information. Neither Accent Group nor its
directors give any assurance that the forecast performance in the forecasts or any forward-looking statement
contained in this presentation will be achieved.
Important Notice
and Disclaimer
o No representation or warranty, express or implied, is or will be made in relation to the fairness, accuracy,
completeness or correctness of all or part of this presentation, or the accuracy, likelihood of achievement or
reasonableness of any forecasts, prospects or returns contained in, or implied by, the information or any part of it.
To the full extent permitted by law, Accent Group disclaims any liability in connection with this presentation and
any obligation or undertaking to release any updates or revisions to the information contained in this presentation
to reflect any change in expectations or assumptions.
o This presentation is for information purposes only and is not an invitation or offer of securities for subscription,
purchase or sale in any jurisdiction. This presentation does not constitute investment or financial product advice
(nor tax, accounting or legal advice) or any recommendation to acquire securities. Each recipient of this
presentation should make its own enquiries and investigations regarding all information in this presentation.
Accent Group Limited FY2020 Results Presentation
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